This latest boardroom strife comes just days after the Bloomfield Road club finally managed to sign an eleventh professional following summer of turmoil

Sinking ship: Chairman Oyston and President Belokon in seaside dispute

Crisis club Blackpool now face internal division after beleaguered chairman Karl Oyston launched a stinging rebuttal to club president Valeri Belokon.

Belokon had previously voiced his concerns on the situation at Bloomfield Road, questioning Oyston's running of the club and accusing the Oyston family of channeling "more than £24 million" from the coffers.

Oyston, however, in an eight-page open letter published on the club's website, has defended the Oyston family's involvement with the Tangerines, instead pointing the finger at Belokon.

"As you know well, my father and our family have funded the club since the day he got involved 27 years ago", the Blackpool chairman said.

"At one point, my father converted over £4 million of personal loans to Blackpool Football Club into a Blackpool Football Club shareholding, adding to additional share capital, which then totalled £5.5 million.

"He gave an interest-free loan of £6.5 million to attract a further £2.5 million grant from the Football Foundation. This £9 million enabled me to build and fit-out most of the North, North West and West stands as you see them today.

"I don’t think my father needs any advice about putting both football and BFC first."

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Oyston also sought to dismiss Belokon's claims that £24 million had found its way out of the club, explaining that the money was used to pay off loans taken out for stadium improvements.

"The £24 million was in part used to pay off loans to Protoplan Ltd., Zabaxe Ltd., which was a considerable benefit to Blackpool Football Club because they were loans that had been used to build and modernise the BFC stadium and to provide BFC with income streams.

"Please note that Protoplan and Zabaxe, both Oyston group companies, did not take profit or interest on those loans", he added.